Tennant Co. (NYSE:TNC) Receives $33.61 Average PT from Brokerages
Tennant Co. (NYSE:TNC) has earned an average rating of “Buy” from the seven ratings firms that are covering the firm. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $33.61.
Several equities research analysts have recently commented on the company. Jefferies Group increased their price objective on Tennant from $54.00 to $56.00 and gave the company a “hold” rating in a report on Friday, July 29th. Zacks Investment Research raised Tennant from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a report on Thursday, July 28th. TheStreet raised Tennant from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Finally, National Bank Financial cut Tennant from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 7th.
Shares of Tennant (NYSE:TNC) opened at 64.25 on Friday. The firm has a market cap of $1.13 billion, a P/E ratio of 36.26 and a beta of 1.07. The stock has a 50 day moving average of $63.95 and a 200 day moving average of $56.81. Tennant has a 52 week low of $45.92 and a 52 week high of $66.54.
Tennant (NYSE:TNC) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.72 by $0.13. The company earned $216.80 million during the quarter, compared to the consensus estimate of $210.61 million. Tennant had a return on equity of 18.52% and a net margin of 3.97%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. Analysts anticipate that Tennant will post $2.50 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, August 29th. Tennant’s dividend payout ratio (DPR) is presently 44.94%.
In other Tennant news, CFO Thomas Paulson sold 15,304 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $62.00, for a total transaction of $948,848.00. Following the transaction, the chief financial officer now owns 43,313 shares in the company, valued at approximately $2,685,406. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Heidi M. Wilson sold 12,158 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $63.68, for a total value of $774,221.44. Following the transaction, the senior vice president now owns 24,541 shares in the company, valued at approximately $1,562,770.88. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TNC. Prudential Financial Inc. boosted its position in Tennant by 2.3% in the first quarter. Prudential Financial Inc. now owns 44,477 shares of the company’s stock valued at $2,290,000 after buying an additional 1,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Tennant by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 468,532 shares of the company’s stock valued at $24,120,000 after buying an additional 2,005 shares during the last quarter. BlackRock Group LTD boosted its position in Tennant by 6.6% in the first quarter. BlackRock Group LTD now owns 24,108 shares of the company’s stock valued at $1,241,000 after buying an additional 1,498 shares during the last quarter. Geode Capital Management LLC boosted its position in Tennant by 2.3% in the first quarter. Geode Capital Management LLC now owns 119,969 shares of the company’s stock valued at $6,175,000 after buying an additional 2,672 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Tennant by 1.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,641 shares of the company’s stock valued at $599,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.
Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company is organized into four operating segments: North America; Latin America; Europe, Middle East, Africa, and Asia Pacific. The Company offers products and solutions consisting of mechanized cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
Receive News & Stock Ratings for Tennant Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant Co. and related stocks with our FREE daily email newsletter.